Do you remember the Shiba Inu coin SHIB, which was overshadowed by the 'brother' Dogecoin and dimmed by the failure of 'Uptober'? Now, it has made a stunning return to the market, with its price soaring as if to tell us: miracles have never been far away.
Today, the SHIB price skyrocketed by 20.97%, like a brilliant new star, reigniting the enthusiasm and expectations of investors. In just a few months, its cumulative increase has reached 84.81%, leading one to ask: is this just a coincidence?
In fact, SHIB has quietly ascended to the peak of the meme coin realm, with today's trading volume surging by 325%, nearing the $6.5 billion mark. Behind this is the enthusiastic pursuit of countless investors, or is it a subtle shift in market direction?
Let us delve into the price trends of SHIB. According to renowned analyst Oscar Ramos's latest analysis on platform X, SHIB's burn rate has surged by 400%, and the current valuation of $0.00003 may just be the starting point of its glorious journey. Are you also looking forward to whether SHIB can remove another zero before 2025?
Ramos pointed out that market conditions are evolving in a favorable direction, especially as SHIB continues to show strong support amid recent market volatility. From the 4-hour chart of SHIB/USDT, a perfect flag breakout pattern has formed, with the short-term target price pointing directly to $0.000035, which is 8.76% higher than the current price. Could this just be a random fluctuation in the market?
However, it is worth noting that the RSI indicator has reached 80, indicating an overbought condition, which undoubtedly increases the risk of a pullback. Nevertheless, from a broader perspective, SHIB's potential remains immense. Although Dogecoin's market capitalization is stable at $22 billion, SHIB's $10 billion valuation suggests that it still has significant room for growth.
Regarding the remaining time in 2024, Ramos reminds us not to be too impatient. He predicts that the likelihood of SHIB removing another zero in the next 60 days is low. But what about 2025? This may be a more realistic and promising goal.
Of course, we cannot overlook the fact that SHIB's technicals remain strong, coupled with upcoming market catalysts such as the FOMC meeting and CPI data release, all of which lay a solid foundation for its upward trajectory. Does all this signal that SHIB is about to usher in a new glory?
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Now, let us hold our breath and see if SHIB can achieve another milestone before 2025, removing yet another zero! This is not just an investment feast, but a contest of faith and dreams. Are you ready?
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The above content is for information sharing only and does not constitute any investment advice! Investing carries risks, and one should be cautious when entering the market!
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